Drilling Fluids Market Is Expected to Generate Huge Profits by 2023: Vendors- Schlumberger Limited, Halliburton Inc., Baker Hughes Incorporated

Global Drilling Fluids Market Information Report, By Type (Water Based Fluid, Oil-Based Fluid, and Synthetic Based Fluid), By Application (Onshore and Offshore) and By Region - Global Forecast To 2023

Pune, India - October 12, 2017 /MarketersMedia/ —

Drilling fluid is the mixture of water, oil caly, & various chemicals. Drilling fluid is also called as drilling mud. Drillling Fluids plays a crucial role in oil and gas exploration activities. While drilling it perform varioys functions such as mud cools the drill bit and lubricate its teeth, it carries the drill cutting to surface and eliminate the drillpipe stuck problem. Mud maintain the hydrostatic pressure to prevent formation fluids from entering into the well bore. New oil reserves discoveries across the globe and increasing shale gas activities in U.S. driving the growth of the market. Recently, US Geological Survey Agency estimated that, the Bossier and Haynesville Formations, on and offshore along with the U.S. Gulf Coast contains 4 billion barrels of oil, 304.4 trillion cubic feet of natural gas, and 1.9 billion barrels of natural gas liquids. Hence, in the coming years, shale gas drilling in the U.S. is increase significantly, which ultimately increases the demand of drilling fluids. However, stringent government regulations for drilling operations may hamper the growth of the market.

Hence, Drilling Fluids Market is expected to reach a market size of USD 69.9 million by the end of the forecast period at CAGR of 14.05%.

Request a Sample Copy @ https://www.marketresearchfuture.com/sample_request/4329

Market Research Analysis
Based on type, water based drilling fluid accounted for the largest market share of 55.90% in 2016, with a market value of USD 4,706.6 Million and is projected to grow at the highest CAGR of 7.52% during the forecast period. Water-based fluids (WBF) are the most commonly used drilling fluid systems. This fluid system is less expensive, requires less chemical treatment before disposal, and their eco-friendly properties are anticipated to fuel the demand of water based fluids during the forecast period. Oil based fluid was the second-largest market in 2016, valued at USD 2,248.0 Million in 2016; it is projected to grow at a CAGR of 6.66%. In oil based fluids, oil is in continuous phase. Oil-based muds are better for greater depths or in directional or horizontal drilling, which place greater stress on the drilling apparatus.

Based on application, onshore accounted for the largest market share of 69.40% in 2016, with a market value of USD 5,843.2 Million and is projected to grow at a CAGR of 6.80% during the forecast period. Offshore was the second-largest market in 2016, valued at USD 2,576.4 Million in 2016; it is projected to grow at the highest CAGR of 7.53%.

The key players of global drillingF fluids market are
• Schlumberger Limited (France),
• Halliburton Inc. (U.S.),
• Baker Hughes Incorporated (U.S.),
• Newpark Resources Inc. (U.S.),
• National Oilwell Varco. (USA),
• Scomi Group Bhd (Malaysia),
• TETRA Technologies, Inc. (U.S.),
• Canadian Energy Services & Technology Corp. (Canada),
• GEO Drilling Fluids, Inc. (U.S.)
• Anchor Drilling Fluids USA, Inc. (U.S.)
• others

For further information on this report, visit @ https://www.marketresearchfuture.com/reports/drilling-fluids-market-4329

Scope of the Report
This study provides an overview of the global drilling fluids market, tracking two market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Latin America Europe, Asia-Pacific (APAC) and Middle East & Africa. The report also provides a forecast, focusing on the market opportunities for the next six years for each region. The scope of the study segments the global Drilling Fluids market by its concrete type, application, end-use and region.
Global Drilling Fluids Market, By Type
• Water Based Drilling Fluid
• Oil-Based Drilling Fluid
• Synthetic Based Drilling Fluid
Global Drilling Fluids Market, By Application
• Onshore
• Offshore

About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

Contact Info:
Name: Akash Anand
Email: Send Email
Organization: Market Research Future
Address: Magarpatta Road, Hadapsar,
Phone: 6468459349

Source URL: https://marketersmedia.com/drilling-fluids-market-is-expected-to-generate-huge-profits-by-2023-vendors-schlumberger-limited-halliburton-inc-baker-hughes-incorporated/249541

For more information, please visit https://www.marketresearchfuture.com

Source: MarketersMedia

Release ID: 249541

More News From redshiftdaily.com

Gains by banks, technology firms lead US stocks higher

Oct 23, 2017

Technology companies and banks led U.S. stocks higher in late-afternoon trading Friday, placing the market on course to extend its gains for the week. Investors cheered a crop of strong company earnings. They also drew encouragement from the Senate's passage of a budget bill, a move expected to ease the path for the White House's tax cut proposal. Consumer products companies lagged the most. KEEPING SCORE: The Standard & Poor's 500 index rose 11 points, or 0.5 percent, to 2,573 as of 3:10 p.m. Eastern time. The Dow Jones industrial average gained 130 points, or 0.6 percent, to 23,293. The...

Google parent leads $1B Lyft investment, deepening Uber rift

Oct 23, 2017

SAN FRANCISCO — Google's parent company is throwing its financial support behind ride-hailing service Lyft, deepening its rift with market leader Uber. Alphabet Inc., which gets most of its money from Google's digital ad network, is leading a $1 billion investment in Lyft that values the privately held company at $11 billion. The investment announced Thursday is being made through Alphabet's CapitalG venture capital arm. Lyft is still far smaller and worth far less than Uber, another privately held company based in San Francisco whose investors have valued it at nearly $70 billion. But Uber has been enmeshed in internal...

Coming soon: a selfie with your credit card application

Oct 23, 2017

NEW YORK — The selfie is everywhere — Facebook, Instagram, Twitter — and soon your bank could be asking for one in order to approve your purchase or credit card application. Payment processing giant Visa Inc. is launching a platform to allow banks to integrate various types of biometrics — your fingerprint, face, voice, etc. — into approving credit card applications and payments. Consumers could experience Visa's new platform in a couple different ways. If a person were to apply for a credit card application on their smartphone, the bank app could ask the applicant to take a selfie and...

Toyota tops Consumer Reports' auto reliability rankings

Oct 23, 2017

DETROIT — Toyota Motor Co. is continuing its reign at the top of Consumer Reports' reliability rankings, a reward for its conservative approach to new technology. The Toyota brand came in first in this year's rankings, followed by the company's luxury Lexus brand. It's the fifth year in a row that a Toyota brand has topped the survey. Kia, Audi and BMW rounded out the top five. Cadillac, GMC, Ram, Dodge and Volvo got the poorest reliability scores, dinged by buyers' problems with their infotainment systems and transmissions. Consumer Reports predicts reliability of 2018 vehicles based on a survey of...

Lawsuit: Bighorn sheep threatened by domestic sheep grazing

Oct 23, 2017

BOISE, Idaho — The U.S. Forest Service is illegally jeopardizing a small herd of bighorn sheep with deadly diseases by allowing thousands of domestic sheep to graze in eastern Idaho as part of agricultural research activities, environmental groups have said in a lawsuit. Western Watersheds Project and WildEarth Guardians in the lawsuit filed Tuesday contend the grazing of sheep owned by the University of Idaho via permits issued to the U.S. Department of Agriculture's Sheep Experiment Station risks transmitting diseases to bighorn sheep. "It's unjustifiable for the U.S. Department of Agriculture and the University of Idaho to expose wild bighorn...

Weather, 20 December
Houston Weather
+7

High: +11° Low: -2°

Humidity: 83%

Wind: NNE - 7 KPH

Canberra Weather
+27

High: +27° Low: +17°

Humidity: 87%

Wind: W - 20 KPH

Roissy-en-France Weather
+6

High: +6° Low: -5°

Humidity: 87%

Wind: ENE - 7 KPH

Florence Weather
+9

High: +9° Low: +6°

Humidity: 97%

Wind: ENE - 17 KPH

Parga Weather
+7

High: +16° Low: +4°

Humidity: 100%

Wind: SE - 25 KPH